HawaiiGas has appointed a new president and chief executive officer to replace Jeff Kissel, who is taking an early retirement after leading the only gas utility in the state for more than five years, the company announced Tuesday.

Replacing Kissel is Alicia Moy, a member of HawaiiGas’ board of directors since 2011. Moy has worked for HawaiiGas’ parent, Macquarie Group, since 2001.

"Mr. Kissel has decided on early retirement in order to focus more time on his work on economic initiatives to lower the cost of doing business in Hawaii," according to a news release from the company.

Kissel, 63, was instrumental in a number of key HawaiiGas initiatives in recent years, including the company’s work on developing renewable sources for the synthetic natural gas it produces, and its push to bring liquefied natural gas to Hawaii to try to bring down energy costs.

During Kissel’s tenure the company had annual growth of 27 percent in net income and 17 percent in operating income. The company was able to achieve those results during a period that included one of the worst recessions in Hawaii history, and without laying off any employees.

Moy was a member of a Macquarie subsidiary team that handled the company’s acquisition of HawaiiGas in 2006 when the utility was known as The Gas Co. Since then she has overseen the subsidiary’s investment in HawaiiGas.

Moy and the leadership team will focus on several HawaiiGas projects in the coming months, according to the news release.

"Among the high priority matters our team will be addressing is the continued diversification of our fuel supply," Moy said. "We will also be concentrating on the further development of our liquefied natural gas and renewable natural gas initiatives to further provide the people of Hawaii with clean, cost-effective and reliable gas energy," she said.

James Hooke, chairman of the board of HawaiiGas and the subsidiary, said the appointment of Moy "is an example of our deep and long-term commitment to Hawaii. We look forward to investing even more into Hawaii over the coming years."

"We appreciate the contributions Jeff Kissel has made," Hooke added. "The company has continued to grow and prosper during his tenure."